Short Term Structured Finance Instruments :

The instruments with original maturity of upto one year.

A1 (SO) – Instruments with this rating are considered to have very strong degree of safety regardin timely payment of financial obligation. Such instruments carry lowest credit risk.

A2 (SO) – Instruments with this rating are considered to have strong degree of safety regarding timely payment of financial obligation. Such instruments carry low credit risk.

A3 (SO) – Instruments with this rating are considered to have moderate degree of safety regarding timely payment of financial obligation. Such instruments carry higher credit risk a compared to instruments rated in the two higher categories.

A4 (SO) – Instruments with this rating are considered to have minimal degree of safety regarding timely payment of financial obligation. Such instruments carry very high credit risk and are susceptible
to default.

D (SO) – Instruments with this rating are in default or expected to be in default on maturity.

Modifier {“+” (plus)} can be used with the rating symbols for the categories A1(SO) to A4(SO). The
modifier reflects the comparative standing within the category.